Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) Short Interest Up 96.3% in June

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 48,068 shares, a growth of 96.3% from the May 31st total of 24,488 shares. Based on an average daily volume of 29,463 shares, the days-to-cover ratio is currently 1.6 days. Approximately 1.7% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Cyclerion Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Cyclerion Therapeutics Price Performance

Shares of CYCN stock traded up $0.03 during trading hours on Wednesday, reaching $3.42. The company had a trading volume of 4,630 shares, compared to its average volume of 3,067,121. The company has a market cap of $14.79 million, a price-to-earnings ratio of -2.51 and a beta of 1.78. Cyclerion Therapeutics has a 12 month low of $1.03 and a 12 month high of $8.48. The business has a fifty day simple moving average of $3.14 and a 200-day simple moving average of $2.25.

Cyclerion Therapeutics (NASDAQ:CYCN) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($17.20) by $16.44. Cyclerion Therapeutics had a negative return on equity of 62.10% and a negative net margin of 170.11%. On average, equities research analysts expect that Cyclerion Therapeutics will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cyclerion Therapeutics stock. Two Sigma Investments LP purchased a new position in shares of Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,293 shares of the company’s stock, valued at approximately $31,000. Two Sigma Investments LP owned about 0.40% of Cyclerion Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 75.62% of the stock is currently owned by hedge funds and other institutional investors.

Cyclerion Therapeutics Company Profile

Cyclerion Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of inhibitors and stimulators of soluble guanylate cyclase (sGC), an intracellular enzyme that plays a critical role in the regulation of vascular tone, cellular proliferation and inflammation. By targeting the nitric oxide (NO)–sGC–cyclic guanosine monophosphate (cGMP) signaling pathway, Cyclerion aims to address a range of cardiometabolic, cardiovascular, pulmonary and neurological disorders with significant unmet medical need.

The company’s lead program, praliciguat, is an oral sGC stimulator investigated for indications such as diabetic nephropathy, metabolic syndrome and heart failure with preserved ejection fraction.